Hunkered Down for the Duration

On Thursday it became official: Fiat Chrysler Automobiles and PSA Group are merging to become the world's fourth-largest automaker. Alfa Romeo, Citroën, Chrysler, Dodge, DS, Fiat, Maserati, Opel, Peugeot, Ram, and Vauxhall will all now share a single corporate parent and merge operations. In a press release, Fiat Chrysler and PSA said that the 50:50 merger should save more than $4 billion (€3.7 billion) a year from "run-rate synergies without any plant closures."